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Explore the relationship between aggregate expenditure, construction output and employment in a developed or developing country.
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Explore the relationship between aggregate expenditure, construction output and employment in a developed or developing country. In a broad sense, macroeconomics can be viewed as the study of aggregate trends in an economy and has been a central concern of economists for centuries. By observing all the economic theories that have been developed throughout the history of mankind, it can be concluded that aggregate expenditure, construction output and employment are highly dependent one to the other. Before their relationship is further analysed though, some of their basic concepts should be defined. Because of the limitations in the length of this paper, it was not possible to analyse all of the different theories, therefore the Keynesian approach to the subject was chosen. A detailed study of the Basic Keynesian Aggregate Expenditure Model will help us understand why changes in aggregate expenditure exert a powerful influence on equilibrium output and employment. ...
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